Welcome to the “Tough Sells” series with AllenWay Real Estate. Here we will look at potential challenging scenarios when selling a house and the strategies / remedies we can use to drive a successful sale in the Charlotte NC, real estate market.
High Traffic Corner Lots
Let’s kick off this series with a scenario I came by recently. I was driving through the desirable Myers Park neighborhood in Charlotte the other day when I noticed a “for sale” sign on a beautiful house. Turning the corner I saw another for sale sign for the same house. Traveling the speed limit, 35 mph, in a steady flow of traffic, I thought to myself
Wow, they’re going to have hard time selling this corner lot property.
The toughest part of this sell is the inconvenience the home owner will face every time they need to leave the house. What’s worse for the home seller is that inconvenience won’t be factored in their asking price. Properties just a few hundred feet away, routinely sell for one to two million dollars.
How much should the inconvenience of pulling out of your driveway into a traffic jam be factored into the list price?
As a good listing agent, none at all. Home evaluation based on the sales comparison approach are based on recent sales of comparables, upgrades to the property, and location. A good listing agent will acknowledge the apparent shortcoming of the home and spin it in a positive light.
Some ways to market this apparent shortcoming:
- Luxury living, in the action!
- Stay in the Loop, with this Myers Park Mansion
- Myers Park Corner Lot, Vantage at it’s best
The key to effectively marketing this scenario is to highlight the benefits of being on the corner… Inspire moods and ideas such as: competence, power, achievement, authority, go-getter, bright lights big city sort of thing.
You get the idea...
Marketing, however can only go so far.
Ensuring your corner home has a barrier - promoting landscaping as well as a private, oasis of a backyard may reassure prospective buyers, they’re getting their moneys’ worth. If you can swing it, noise-reducing windows go a long way as well.
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